The Sales Managers Index provides the earliest monthly data on the speed and direction of economic activity. On the Mongolian economy, market growth index grows further to the highest level in the last three years, business confidence continues to grow rapidly, and price inflation remains low, the report said.

Moreover, coal sector in the world is seeing some positive growth and according to this, Mongolia's coal export reached 1 billion U.S. dollars in the first five months of this year, nearly five times more than the same period last year.

The IMF bailout deal for Mongolia for the next three years also boosts confidence in the Mongolian economy.

However, it's the Mongolian government's responsibility to make the deal worth for the economy, said Moody's.